One model of a company's costs is given by the short-run Cobb-Douglas cost curve $C ( x ) = K x ^ { \frac { 1 } { a } } + F$ , where a is a positive constant, F is the fixed cost, and K measures the available technology.(a) What is the marginal cost function?
(b) For what values of a will C be concave downward?

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The Answer of One model of a company's costs is given by the short-run Cobb-Douglas cost curve $C ( x ) = K x ^ { \frac { 1 } { a } } + F$ , where a is a positive constant, F is the fixed cost, and K measures the available technology.(a) What is the marginal cost function?
(b) For what values of a will C be concave downward?

One Model of a Company's Costs Is Given by the Short-Run